If your market is a competitive dogfight, think like a cat

Purpose The article helps answer one of the most urgent questions facing corporate leaders: how can a company trapped in a competitive market innovate successful new products that are meaningfully different? Design/methodology/approach The article explains how to implement three business-strategy frameworks that have emerged, all of which provide useful guidance to entrepreneurs and corporate innovators seeking to identify meaningfully differentiated products and services that deliver a compelling consumer value proposition. Findings The three strategy frameworks reviewed in this article provide insightful perspectives on how companies can break away from the pack to create sizeable opportunities for profitable growth, even in industries that are struggling with sluggish demand and slim profit margins. Practical implications Be prepared to disrupt your own business when the inevitable onset of Red Ocean market conditions begins to diminish your prospects for continued profitable growth. Originality/value A comprehensive look at product and service differentiation strategies that can focus the hunt for breakthrough innovations.